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      09-23-2020, 07:00 AM   #1
Johndani
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M550 lease end, do I buy back

Hello,
My lease ends nov1st 2020. I love my car ,had it built the way I wanted it. Bowers stereo med. blue etc. exactly what I wanted. Now the problem is I have 55k on it. I'm so sick of leasing. 1 year ago i purchased a new f150 which I love. I saw how many miles I was running up on m550 and figured good time to get this truck. I like not killing my car everyday. Anyway the dealer of course says I'd be crazy to by back because the by back is 50k plus I would need to certify it but would save 3k dollars on over mileage. I just feel if I buy back I'd put like 20 k down have a very small payment and keep for a while and stop with all these car Payments. I've been looking at cert pre owned same car and yes I can get less mileage but price is the same or more on this car I rather keep mine because it's all highway and I know how I kept it. I also can go new and get a really good deal with all the Incentives but then again never see my way out of owning this outright. I'm on a debt free kick. Also thinking of just going in a totally different direction like s550 as those certified pre owned seem much more reasonable where you can get a car that was 110k list for 65k now. Any advice would be appreciated. Thanks
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      09-23-2020, 08:48 AM   #2
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I think this potentially works out to be an expensive way of owning a car outright.
The pro is that you know exactly what the car is like and how it's been treated.

You could lease again , presumably that will be an attribute rate and not much more than buying the current car?
Problem is after that lease ends you are back in the same spot again.

This is I guess the negative side to leasing as it locks you into buying expensive cars every few years.

Guess depends on your finance and what you think your finances will be in 3 years time as well?

If you are happy with current car then stay with it and look elsewhere and see if finance can be arranged at a better rate?

Sure others will have some thoughts on the matter
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      09-23-2020, 10:34 AM   #3
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I don't like the idea of paying north of $50K for a 3yr old car, regardless of the condition it is in. Keep in mind this will be a $25K car irrespective of condition in next 3-4 years. When you look at the depreciation, taxes and cost of capital... it makes little sense to me. All this to save $3K... no thank you.
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      09-23-2020, 12:28 PM   #4
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Originally Posted by bimmer_335 View Post
I don't like the idea of paying north of $50K for a 3yr old car, regardless of the condition it is in. Keep in mind this will be a $25K car irrespective of condition in next 3-4 years. When you look at the depreciation, taxes and cost of capital... it makes little sense to me. All this to save $3K... no thank you.
So what do I do if not buy back what's plan B
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      09-23-2020, 12:33 PM   #5
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Can’t you prepay the over mileage now at $0.20 a mile? I would do that and then look for a similar CPO car that you can buy outright with fewer miles. That’s what my plan is especially as I find myself driving a lot less in this pandemic so leasing is just not as financially sound anymore
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      09-23-2020, 12:34 PM   #6
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Quote:
Originally Posted by Johndani View Post
Hello,
My lease ends nov1st 2020. I love my car ,had it built the way I wanted it. Bowers stereo med. blue etc. exactly what I wanted. Now the problem is I have 55k on it. I'm so sick of leasing. 1 year ago i purchased a new f150 which I love. I saw how many miles I was running up on m550 and figured good time to get this truck. I like not killing my car everyday. Anyway the dealer of course says I'd be crazy to by back because the by back is 50k plus I would need to certify it but would save 3k dollars on over mileage. I just feel if I buy back I'd put like 20 k down have a very small payment and keep for a while and stop with all these car Payments. I've been looking at cert pre owned same car and yes I can get less mileage but price is the same or more on this car I rather keep mine because it's all highway and I know how I kept it. I also can go new and get a really good deal with all the Incentives but then again never see my way out of owning this outright. I'm on a debt free kick. Also thinking of just going in a totally different direction like s550 as those certified pre owned seem much more reasonable where you can get a car that was 110k list for 65k now. Any advice would be appreciated. Thanks
With two cars, what purpose does the M550 serve? Is the F150 a daily, or for work, or simply just another car to load miles on? If you like the F150, why not get maybe something sportier and exciting to compliment it? Or keep the M550 and find something to replace the F150, or just have the M550 only and drive it till the wheels fall off

As for the S-Class, the S550's are very nice, and the M278 engine is bulletproof, but all S550's are pre-facelift models, which I believe use an older version of command, have an older transmission design which isn't as smooth as the newer 9speed, and no apple carplay, not to mention a lot of gadgets which can easily break. I really like the S-Class, however, I would recommend a facelift (2018+) S560 over the S550.
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      09-23-2020, 12:36 PM   #7
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Originally Posted by Ph0zenstone View Post
Can’t you prepay the over mileage now at $0.20 a mile? I would do that and then look for a similar CPO car that you can buy outright with fewer miles. That’s what my plan is especially as I find myself driving a lot less in this pandemic so leasing is just not as financially sound anymore
I just worry a bit here in NJ people abuse there cars. Don't trust mileage either. But you are correct I need to get something with less miles and buy it. M550 go for a lot also
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      09-23-2020, 12:47 PM   #8
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Johndani rumor has it BMW may offer significant discount on buyouts as you're getting closer to lease maturity date. Nov is around the corner. Did you get any discounts?

My lease ends mid Dec and my buyout money remains the same. Zero discounts so curious to hear if you're getting any discounts since your lease is closer to maturity. I am guessing the answer is, NO?
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      09-23-2020, 12:58 PM   #9
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Originally Posted by COBodom View Post
Johndani rumor has it BMW may offer significant discount on buyouts as you're getting closer to lease maturity date. Nov is around the corner. Did you get any discounts?

My lease ends mid Dec and my buyout money remains the same. Zero discounts so curious to hear if you're getting any discounts since your lease is closer to maturity. I am guessing the answer is, NO?
Quote:
Originally Posted by COBodom View Post
Johndani rumor has it BMW may offer significant discount on buyouts as you're getting closer to lease maturity date. Nov is around the corner. Did you get any discounts?

My lease ends mid Dec and my buyout money remains the same. Zero discounts so curious to hear if you're getting any discounts since your lease is closer to maturity. I am guessing the answer is, NO?
I called Bmw direct and they said I have to deal with the dealer on that. I then called the dealer and they said let lease end and come in and we will work together to negotiate with BMW financial. I'd also have to talk about certification.
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      09-23-2020, 01:06 PM   #10
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Quote:
Originally Posted by jstein55 View Post
Quote:
Originally Posted by Johndani View Post
Hello,
My lease ends nov1st 2020. I love my car ,had it built the way I wanted it. Bowers stereo med. blue etc. exactly what I wanted. Now the problem is I have 55k on it. I'm so sick of leasing. 1 year ago i purchased a new f150 which I love. I saw how many miles I was running up on m550 and figured good time to get this truck. I like not killing my car everyday. Anyway the dealer of course says I'd be crazy to by back because the by back is 50k plus I would need to certify it but would save 3k dollars on over mileage. I just feel if I buy back I'd put like 20 k down have a very small payment and keep for a while and stop with all these car Payments. I've been looking at cert pre owned same car and yes I can get less mileage but price is the same or more on this car I rather keep mine because it's all highway and I know how I kept it. I also can go new and get a really good deal with all the Incentives but then again never see my way out of owning this outright. I'm on a debt free kick. Also thinking of just going in a totally different direction like s550 as those certified pre owned seem much more reasonable where you can get a car that was 110k list for 65k now. Any advice would be appreciated. Thanks
With two cars, what purpose does the M550 serve? Is the F150 a daily, or for work, or simply just another car to load miles on? If you like the F150, why not get maybe something sportier and exciting to compliment it? Or keep the M550 and find something to replace the F150, or just have the M550 only and drive it till the wheels fall off

As for the S-Class, the S550's are very nice, and the M278 engine is bulletproof, but all S550's are pre-facelift models, which I believe use an older version of command, have an older transmission design which isn't as smooth as the newer 9speed, and no apple carplay, not to mention a lot of gadgets which can easily break. I really like the S-Class, however, I would recommend a facelift (2018+) S560 over the S550.
Quote:
Originally Posted by COBodom View Post
Johndani rumor has it BMW may offer significant discount on buyouts as you're getting closer to lease maturity date. Nov is around the corner. Did you get any discounts?

My lease ends mid Dec and my buyout money remains the same. Zero discounts so curious to hear if you're getting any discounts since your lease is closer to maturity. I am guessing the answer is, NO?
Quote:
Originally Posted by jstein55 View Post
Quote:
Originally Posted by Johndani View Post
Hello,
My lease ends nov1st 2020. I love my car ,had it built the way I wanted it. Bowers stereo med. blue etc. exactly what I wanted. Now the problem is I have 55k on it. I'm so sick of leasing. 1 year ago i purchased a new f150 which I love. I saw how many miles I was running up on m550 and figured good time to get this truck. I like not killing my car everyday. Anyway the dealer of course says I'd be crazy to by back because the by back is 50k plus I would need to certify it but would save 3k dollars on over mileage. I just feel if I buy back I'd put like 20 k down have a very small payment and keep for a while and stop with all these car Payments. I've been looking at cert pre owned same car and yes I can get less mileage but price is the same or more on this car I rather keep mine because it's all highway and I know how I kept it. I also can go new and get a really good deal with all the Incentives but then again never see my way out of owning this outright. I'm on a debt free kick. Also thinking of just going in a totally different direction like s550 as those certified pre owned seem much more reasonable where you can get a car that was 110k list for 65k now. Any advice would be appreciated. Thanks
With two cars, what purpose does the M550 serve? Is the F150 a daily, or for work, or simply just another car to load miles on? If you like the F150, why not get maybe something sportier and exciting to compliment it? Or keep the M550 and find something to replace the F150, or just have the M550 only and drive it till the wheels fall off

As for the S-Class, the S550's are very nice, and the M278 engine is bulletproof, but all S550's are pre-facelift models, which I believe use an older version of command, have an older transmission design which isn't as smooth as the newer 9speed, and no apple carplay, not to mention a lot of gadgets which can easily break. I really like the S-Class, however, I would recommend a facelift (2018+) S560 over the S550.

My lease ends mid Dec and my buyout money remains the same. Zero discounts so curious to hear if you're getting any discounts since your lease is closer to maturity. I am guessing the answer is, NO?[/QUOTE]

I use the f150 to off set miles. Work a bit. Also house work projects. Use it in snow , use it when there's 9 million pot holes in Nj. Even with the x drive here in nj winters your bending wheels daily. I always had an older f150 for above reasons. As far as something sportier that's a great option except I'm like 6. 1.. 230lbs. When ever I buy a smaller car I'm not too happy. I've tried a zo6 Vette didn't like it. I also had a caddy cts V very uncomfortable. I'm definitely up for any recommendations. I always find my self next to a 5 series I'm thinking maybe I just like these larger cars. Thanks again for the reply
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      09-23-2020, 03:06 PM   #11
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I called Bmw direct and they said I have to deal with the dealer on that. I then called the dealer and they said let lease end and come in and we will work together to negotiate with BMW financial. I'd also have to talk about certification.
Thank you for response and good luck.
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      09-23-2020, 09:35 PM   #12
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I am in the same position. Owners choice (lease) is up end of November. Back in late July my buyout was reduced by $7500. However this month the $7500 discount went away. If it comes back I will be buying it off the lease. With owners choice the taxes were paid up front and the car is titled in my name so the buyout amount is not taxable.
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      09-23-2020, 09:50 PM   #13
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55k is not a lot of miles for a BMW. I put 240k on a 2000 3 series and the engine was still strong.

For me, depends on what you think of the engine. I've always liked the Inline 6 and now with turbo. You have an 8 - I don't know much about it. It's a 2018 and still has all the bells and whistles you want.

You know the car, you've kept it, you won't be putting too many miles on it any longer. If you don't have any qualms about it. Dealers are selling that car for $50k or so because the market is still so limited with Covid.

I'd probably keep it if you are going to keep it for a long time.
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      09-24-2020, 05:48 AM   #14
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Originally Posted by Desmond79 View Post
55k is not a lot of miles for a BMW. I put 240k on a 2000 3 series and the engine was still strong.

For me, depends on what you think of the engine. I've always liked the Inline 6 and now with turbo. You have an 8 - I don't know much about it. It's a 2018 and still has all the bells and whistles you want.

You know the car, you've kept it, you won't be putting too many miles on it any longer. If you don't have any qualms about it. Dealers are selling that car for $50k or so because the market is still so limited with Covid.

I'd probably keep it if you are going to keep it for a long time.
Makes sense thank you so much.
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      09-24-2020, 01:12 PM   #15
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I just bought my wife a CPO M550i with pretty much all the options except for night vision. Price I paid was 50.5k which was fair in my opinion and lowest I could find in my area with all the options. The car had 33k miles at purchase. What exactly is your buy out? I'd say if it's around 50k, then just go ahead and buy it out. You know the history of the car and that's the most important thing in owning the car. I'd take a car with higher mileage any day if I know it's complete history, than one that has lower mileage but an unknown history. The headache of dealing with potential repairs due to unknown history is not worth the 2-3k you save.
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      09-24-2020, 01:17 PM   #16
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I just bought my wife a CPO M550i with pretty much all the options except for night vision. Price I paid was 50.5k which was fair in my opinion and lowest I could find in my area with all the options. The car had 33k miles at purchase. What exactly is your buy out? I'd say if it's around 50k, then just go ahead and buy it out. You know the history of the car and that's the most important thing in owning the car. I'd take a car with higher mileage any day if I know it's complete history, than one that has lower mileage but an unknown history. The headache of dealing with potential repairs due to unknown history is not worth the 2-3k you save.
Thanks for this info.. my buy back is 51k but maybe I can negotiate with them. My car is built nice I have the bowers and Wilkins sound which is hard to find on the cpo and I really like my colors and I know I never abused the car. I'm also hoping I can negotiate with them and have to get this certified by the dealer. If all in I'm at 50k I thinks it might be worth it more than that I might go new. Thanks again for your input.
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      09-24-2020, 01:19 PM   #17
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I just bought my wife a CPO M550i with pretty much all the options except for night vision. Price I paid was 50.5k which was fair in my opinion and lowest I could find in my area with all the options. The car had 33k miles at purchase. What exactly is your buy out? I'd say if it's around 50k, then just go ahead and buy it out. You know the history of the car and that's the most important thing in owning the car. I'd take a car with higher mileage any day if I know it's complete history, than one that has lower mileage but an unknown history. The headache of dealing with potential repairs due to unknown history is not worth the 2-3k you save.
Oh and do I get another m550 if I go new?? That's the question I do love the car though. I don't need a sedan but just like them
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      09-24-2020, 02:19 PM   #18
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So what do I do if not buy back what's plan B
I rather lease a new car or even shop cross brand to find the best value. At the end of the day its your money... so its up to you how to blow it. For me, putting $20K cash in a used car is a pretty lousy way of blowing it.
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      09-24-2020, 09:14 PM   #19
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Quote:
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So what do I do if not buy back what's plan B
Just drive the truck for a while and see if you can live with it as your only vehicle. I the meantime save up another 10-15k and then buy a year old 540 or 550 and have almost no payment.
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      09-25-2020, 06:49 AM   #20
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Check your Bmw account and see if you have a $7500 discount offer. Buy the car if you have that offer.
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      09-25-2020, 09:34 AM   #21
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Check your Bmw account and see if you have a $7500 discount offer. By the car if you have that offer.
Wouldn't they send an email or snail mail notice if they change the terms? Otherwise, I'm not sure where I would look for that offer.

Of course, I'm a bit more than a year away from my lease end, so it's too soon to jump.

As for the OP, I too looked at the S550 coupe and it is a fabulous car, but OMG if you think it's a bargain at 65K just wait two more years when it's 40K. The depreciation on those things just doesn't stop.

I'd much rather see you negotiate a good price on your 550 and buy a used car that you know is good and cared for, rather than crossing your fingers and getting who-knows-what. Especially if you still like it. Not much difference in the new ones except for the confusing instrument panel and the slightly cosmetic changes.
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      09-25-2020, 11:52 PM   #22
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Wouldn't they send an email or snail mail notice if they change the terms? Otherwise, I'm not sure where I would look for that offer.

Of course, I'm a bit more than a year away from my lease end, so it's too soon to jump.

As for the OP, I too looked at the S550 coupe and it is a fabulous car, but OMG if you think it's a bargain at 65K just wait two more years when it's 40K. The depreciation on those things just doesn't stop.

I'd much rather see you negotiate a good price on your 550 and buy a used car that you know is good and cared for, rather than crossing your fingers and getting who-knows-what. Especially if you still like it. Not much difference in the new ones except for the confusing instrument panel and the slightly cosmetic changes.
No, I don’t remember getting a paper mail and I missed it. I only found out after I had bought another car and I logged into my bmw financial account.

To OP, I ended up buying a $127k cpo one year old 750i for exactly half the price And I like it much better than I thought I would. It’s large but the suspension makes the m550 suspension feel rudimentary.
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